Public Financing Support for Graphite Supply Chain

The Ministry of Trade, Industry, and Energy announced plans for KRW 9.7 trillion in government financing for domestic investment targeting greater diversity in graphite supply chains. Currently, the Korean battery industry depends 90% of its graphite supply on China; battery manufacturers have express strong concerns around the US Inflation Reduction Act provisions which would exclude batteries manufactured using Chinese graphite from receiving tax credits. Details of the financing scheme has not yet been announced.

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